6 February 2026
International Container Terminal Services Inc. (ICTSI)’s wholly owned subsidiary Victoria
International Container Terminal Ltd. (VICT) has signed a 26-year extension of its
contract to operate and manage the Webb Dock East terminal at the Port of Melbourne.
Port of Melbourne (PoM) and VICT announced the extension today, which will see VICT
continue to operate and manage the terminal until 2066. This moves the expiry date
from 2040 and results in a remaining contract life of 40 years at Australia’s largest
general cargo and container port.
ICTSI has made long-term investments in VICT since the original lease was agreed in
2014, and is currently implementing a new investment program scheduled for
completion in late 2027. This includes a new neo Panamax ship-to-shore quay crane,
four hybrid automated straddle carriers and the extension of two container stacking
blocks.
The Port of Melbourne has seen substantive growth in recent years, including record
trade in FY25, when it handled approximately $154bn in trade. This is expected to
continue, with container trade at the port forecast to double over the next 30 years.
VICT Chief Executive O¯icer Bruno Porchietto said the expansion of the contract term
reinforced the company’s long standing commitment to the Port of Melbourne and to
the Victorian economy.
“The extension allows us to continue investing in capacity, systems and people to
support the State’s trade requirements over the long term, while providing shipping lines
and cargo owners with greater operating continuity and certainty,” he said.
Port of Melbourne CEO Saul Cannon welcome the agreement.
“We see VICT’s decision to extend its lease at the Port of Melbourne as a sign of great
confidence in our future,” he said.
“We welcome the investment VICT is making in the terminal and its shared commitment
to keeping our port as the freight capital of Australia.”
The agreement will take effect upon the satisfaction of customary conditions precedent
applicable to transactions of this nature.
For more information
VICT:
Marco Quaranta
mquaranta@vict.ictsi.com
0407 688 004
Port of Melbourne:
Sarah Browne
sarah.browne@portofmelbourne.com
0439 841 395